The government celebrated this week as new figures showed that Peru is having an economic boom. The ‘Diario Oficial’ released a glowing report stating that the economy grew by 8.78% over 2010, pushing Peru ahead of other Latin American countries. These results are dependent on construction, manufacture and commerce, the three sectors that generate most employment in the country.
President Alan García is delighted as this economic boom is having a knock-on effect. The increase in employment and salaries has in turn heightened the demand for more consumer products, such as cosmetics and beer, thus increasing employment even more.
This is reflected in further 2010 figures released by the government: construction increased by 17.44%, manufacture by 13.5% and commerce by 9%. In García’s toast to the nation he claimed that: ‘If we maintain the speed and number of new state works, which now exceed 138 million, whilst simultaneously keeping up private investments, we are going to grow much more’.
Peru, Chile and Colombia have formed a body called the ‘Mercado Integrado Latinoamericano’ (MILA or ‘Integrated Latin American Market’), which consists of the fusion of national bursaries.
Francis Steninng, the director of the Bolsa de Valores de Lima (BVL), confirmed that the MILA is close to completion. This new project is hoped to align the strategies of the cooperations involved in order to improve financial and technological aspects as well as easing market development.
The upcoming elections have prompted much talk of imminent changes to the political system. One which stood out in particular this week was the proposition by Victor Andrés García Belaunde, candidate for the ‘Peru Posible’ Party, who insisted that the next First Lady should not have her own personal office in the government palace.
Belaunde pointed out the unnecessary expense of the policy, and praised Violeta Correa, wife of ex-president Fernando Belaunde, for not claiming an office in the palace and instead ‘doing great social works for the country without any cost to the state’.
Over one thousand native potato seeds from the Cusco Pisac region have been sent to the Arctic. This preservation project is hosted at the Global Seed Bank on the archipelago of Svalbard where thousands of seeds from around the world are being gathered in order to guarantee their preservation under the threat of global warming.